Main Street Registry

Plymouth Lunch Money LLC

Plymouth, MN · Limited-Service Restaurants · NAICS 722513

Plymouth Lunch Money LLC is a limited-service restaurant business located in Plymouth, Minnesota. The company was financed with an SBA 7(a) loan for a change of ownership of $1,162,000, approved on October 25, 2023 by the lender BankVista.

SBA 7(a) loan, change of ownership, approved Oct 25, 2023

$1,162,000 approvedLender: BankVista10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,162,000
SBA-guaranteed amount
$871,500 (75% of the approval)
Lender
BankVista, Sartell, MN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8%, fixed
Term
10 years (120 months)
Estimated maturity
October 25, 2033 (estimated, approval date plus term)
Estimated monthly payment
$14,098 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 31, 2023
Loan status
Status not reported (SBA exemption)
Jobs supported
25
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Project location
Hennepin County, MN
SBA district office
Minnesota District Office
Congressional district
MN-03
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 58% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in Minnesota: $1,482,119.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Minnesota